Rivian Automotive Inc. ($RIVN) Stock Forecast: Down 7.3% Today

What is Rivian Automotive Inc.?

Rivian Automotive Inc. (NASDAQ: RIVN) is an electric vehicle (EV) company noted for its innovative designs and strong corporate order pipeline. The company recently hosted its 2024 Investor Day event, reiterating production guidance and long-term goals.

Why is Rivian Automotive Inc. going down?

RIVN stock is down 7.3% on Jun 28, 2024 17:35

• Despite positive updates during the 2024 Investor Day event, Rivian's stock saw a decline in value today.
• The stock initially rose earlier in the week following a partnership announcement with Volkswagen, but this trend has since reversed.
• Analysts increased the price target for Rivian, suggesting promise for the future, but short-term market sentiment could have been impacted by broader market movements or profit-taking activities.
• Market adjustments affecting growth stocks and unexpected influences on stock prices for other companies might have shifted investor focus away from Rivian temporarily, contributing to the stock's decline.

RIVN Price Chart

RIVN News

Rivian Is A 'Long-Term Winner' With Established Corporate Order Pipeline: Analyst - Rivian Automotive ( NASDAQ:RIVN )

Needham analyst Chris Pierce reiterated the Buy rating on Rivian Automotive, Inc. RIVN, raising the price forecast to $20 from $13.

https://www.benzinga.com/analyst-ratings/analyst-color/24/06/39554941/rivian-is-a-long-term-winner-with-established-corporate-order-pipeline-analyst

What's Going On With Rivian Stock Friday? - Rivian Automotive ( NASDAQ:RIVN )

Rivian Automotive, Inc. RIVN shares are trading lower Friday after the stock gained earlier in the week following the announcement of a partnership with Volkswagen and the company's investor day.

https://www.benzinga.com/news/24/06/39554107/whats-going-on-with-rivian-stock-friday

Needham Just Raised Its Price Target on Rivian (RIVN) Stock

Rivian (NASDAQ:RIVN) stock should trade at $20, according to Needham analyst Chris Pierce. The analyst raised his price target from $13 while reiterating a “buy” rating after Rivian’s 2024 Investor Day event yesterday. During the event, Rivian reiterated its 2024 production guidance for 57,000 vehicles and the fact that it expects a positive gross profit per vehicle during the fourth quarter through cost reductions. Rivian produced 57,232 vehicles last year. Additionally, Rivian guided for Q2 production of between 13,000 and 13,300 vehicles. That came on top of the analyst estimate for 12,000 vehicles. Rivian will report its Q2 production and deliveries on July 2. The electric vehicle (EV) company also provided several long-term goals, such as a gross margin in the 25% range and an adjusted profit margin in the “high teens.” A timeline for these targets was not provided. “Everything that you’re hearing from us, around our product, around how we’re running the business, around how we’re driving toward profitability, my hope is that you’re seeing really an extreme sense of urgency,” said CEO RJ Scaringe.

https://investorplace.com/2024/06/needham-just-raised-its-price-target-on-rivian-rivn-stock/

3 Under-$30 Growth Stocks to Buy for 3-Bagger Returns by 2026

Back in 2021, growth stocks had skyrocketed. One reason for the rally was easy money policies and as interest rates increased, growth readjustments translated into correction for some of the best growth stocks. However, with the likelihood of multiple interest rate cuts in the next 12 to 24 months, I am bullish on another big rally for growth stocks. The focus of this column is on under-$30 growth stocks to buy that can deliver 3-bagger returns in 24 months. The first two stocks discussed in the column represent companies investing significantly in expansion. These companies are likely to witness stellar revenue and EBITDA growth. That’s the key catalyst for stock upside. Further, the third company discussed is a potential turnaround story after a deep correction in the last few years. Let’s discuss the business and balance sheet fundamentals that are likely to support a big rally for these under-$30 growth stocks.

https://investorplace.com/2024/06/3-under-30-growth-stocks-to-buy-for-3-bagger-returns-by-2026/

3 Stocks to Buy Right Now Without Any Hesitation

Unexpected catalysts are driving the share prices of some previously beaten down stocks sharply higher, presenting a buying opportunity for investors. Surprise earnings beats, new partnerships and takeover rumors are lifting the share prices of several well-known companies that had fallen on hard times. For investors, these catalysts present an opportunity to take a position as the stocks begin to rally off their recent bottoms, riding the share price to big gains. In the current set-up, the potential rewards offered by these stocks far outweigh the risks. Here are three stocks to buy right now without any hesitation.

https://investorplace.com/2024/06/3-stocks-to-buy-right-now-without-any-hesitation/

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Rivian Automotive Inc. Price History

28.05.2024 - RIVN Stock was up 9.3%

• Rivian's stock experienced a strong bullish movement today, likely fueled by positive updates from its annual Investor Day event.
• The confirmation of the 2024 production guidance at the event reassured investors about the company's growth trajectory, leading to increased confidence in Rivian's future prospects.
• The announcement of Volkswagen's gradual investment in Rivian earlier in the week also contributed to the positive sentiment surrounding the stock, showcasing the potential for strategic partnerships to drive stock performance.
• Despite J.P. Morgan's cautious stance on Rivian stock, the market responded positively to the company's recent developments, highlighting the impact of fundamental news on investor sentiment and stock movement.

27.05.2024 - RIVN Stock was up 12.1%

• Although there was a noticeable increase in options activity signaling optimism among investors, Rivian Automotive (RIVN) faced considerable bearish movement in the market recently.
• Factors such as decreased demand and higher interest rates are believed to have influenced the drop in Rivian's stock value.
• Despite a substantial investment from Volkswagen Group in the past, current market conditions and investor sentiment have had a negative impact on the company's stock performance.
• Challenges within the EV market, including negative perceptions and infrastructure limitations, likely contributed to Rivian's recent bearish performance.

27.05.2024 - RIVN Stock was up 12.9%

• Rivian's stock saw a significant decline despite securing a substantial $5 billion investment from Volkswagen Group.
• The lower demand and higher interest rates might have contributed to the stock's downward trend.
• The false rally of Lucid Group (LCID) following news about a competitor's investment may have diverted investor attention from Rivian, adversely affecting its stock.
• Despite optimistic remarks from analysts like Daniel Ives, market conditions and EV sector competition appear to have outweighed positive news for Rivian, leading to the bearish movement.

26.05.2024 - RIVN Stock was up 21.7%

• Rivian's stock surged over 20% after Volkswagen revealed its plan to invest up to $5 billion in the company, with an initial $1 billion investment. This news signals confidence in Rivian's role in the EV sector and its electrification plans.
• The bullish movement in Rivian's stock had a ripple effect on other EV companies like Faraday Future (FFIE), which saw an 80% increase in its stock price. Despite not being directly involved in the Rivian-Volkswagen deal, the positive sentiment in the EV industry lifted FFIE and other similar companies.
• Conversely, Aptiv (APTV) experienced a more than 10% decline in its stock price as analysts raised concerns about potential competition arising from the Rivian-Volkswagen partnership. The need for companies to develop their own electrical architecture could impact Aptiv's growth prospects negatively.
• The overall market sentiment towards EV stocks was optimistic today, with Rivian's positive news influencing the sector's performance. This demonstrates the interconnectedness of companies within the EV industry and how significant developments can shape market movements.

26.05.2024 - RIVN Stock was up 21.7%

• Rivian's stock surged after announcing plans for a joint venture with Volkswagen, boosting investor confidence in the company's future prospects.
• The positive momentum in Rivian's stock also lifted other EV stocks like Nio, which had been struggling recently, indicating a potential turnaround in the EV sector.
• Analysts are cautious about the implications of the Rivian-Volkswagen deal on other companies like Aptiv, suggesting a mixed sentiment in the market despite the overall bullish trend in EV stocks.
• The market movement reflects investors' optimism towards Rivian's strategic partnerships and the potential for growth in the electric vehicle industry, driving up stock prices across the sector.

26.05.2024 - RIVN Stock was up 22.7%

• Rivian Automotive's stock surged following the revelation of a partnership with Volkswagen, reflecting favorable market sentiment towards the collaboration.
• While initial concerns were raised by a financial analyst from Aptiv about the Rivian-Volkswagen deal, the overall market response was predominantly positive.
• Reports of job cuts at Perion Network linked to changes in Microsoft's ad revenue might have indirectly influenced investor trust in tech stocks, potentially drawing more attention to Rivian's electric vehicle segment.
• Despite having no direct connection to Rivian, the ongoing layoffs at Ginkgo Bioworks could have contributed to a broader market trend of cost reduction and restructuring, underscoring Rivian's positive partnership with Volkswagen as a symbol of advancement and cooperation within the EV sector.

26.05.2024 - RIVN Stock was up 23.5%

• Rivian's stock surged after a significant investment of up to $5 billion from Volkswagen, providing Rivian with capital and a competitive advantage in the EV industry.
• The investment from Volkswagen has boosted investor optimism in Rivian's future growth prospects, leading to the bullish movement in the stock price.
• This development emphasizes the importance of strategic partnerships and investments in driving market sentiment and stock performance in the EV sector.
• The market's positive reaction to Rivian's partnership with Volkswagen contrasts with the layoffs and restructuring news from Ginkgo Bioworks, showcasing the impact of corporate decisions on stock movements.

26.05.2024 - RIVN Stock was up 32.0%

• Rivian's stock price climbed following a substantial investment from Volkswagen amounting to $5 billion. This partnership will involve collaborating on software-defined vehicle platforms.
• Cantor Fitzgerald's decision to raise the price target for RIVN stock, while also maintaining an "overweight" rating, contributed to increased investor confidence in the company's growth trajectory.
• Despite concerns raised by an investigation into potential investor losses by Faruqi & Faruqi, LLP, positive developments around Rivian have kept market sentiment mostly upbeat about the company's future.
• The notable uptrend in Rivian's stock value can be linked to the Volkswagen partnership, positive analyst predictions, and growing investor trust in the EV industry's potential growth.

26.05.2024 - RIVN Stock was up 40.7%

• Rivian's stock climbed around 40% post the announcement of a partnership with Volkswagen, wherein the German automaker committed a $5 billion investment. This injection of funds significantly boosted Rivian's market value.
• The agreement with Volkswagen not only brought a substantial financial injection to Rivian but also served as a validation of the company's technology and design, instilling confidence among investors in the electric vehicle manufacturer.
• Analysts adjusted their price targets for Rivian's stock in response to this positive development, indicating a resurgence in interest and optimism regarding the company's future trajectory.
• The market's positive response to the Volkswagen partnership demonstrates the significance of strategic collaborations and investments in influencing stock performance, particularly within the competitive electric vehicle sector.

25.05.2024 - RIVN Stock was up 8.3%

• Rivian witnessed a surge in its stock value as it unveiled plans to attain profitability per vehicle, supported by cost-saving measures and improvements in production efficiency.
• Analysts at Guggenheim initiated coverage on Rivian, rating it as a Buy and expressing optimism about its potential to lead the EV market, akin to Tesla.
• Despite a recall involving 666 R1 vehicles due to tire weight capacity labeling issues, Rivian's stock demonstrated strength, indicating investor confidence in the company's positive direction and financial prospects.
• Rivian's stock's upward momentum can be attributed to various factors, including cost-cutting measures, production efficiencies, positive analyst outlook, and its dedication to achieving a positive gross margin by the end of the year.

25.05.2024 - RIVN Stock was up 7.5%

• The CEO of Rivian recently shared cost-cutting strategies to enhance profitability, potentially leading to increased investor confidence and a positive stock movement.
• Guggenheim Securities upgraded Rivian's rating to Buy and raised the price target, potentially sparking optimism among investors and driving interest in Rivian stock.
• Some R1 vehicles were recalled due to incorrect weight capacity labeling on tires, initially causing concerns but not outweighing the impact of positive news and analyst actions.
• An announcement about Tesla expanding its supercharger network to include Mercedes-Benz and adjusting timelines for competitors in the EV industry may have indirectly influenced Rivian's stock, highlighting the competitive landscape, but Rivian's unique position and recent advancements seem to have driven the bullish trend despite industry developments.

25.05.2024 - RIVN Stock was up 5.0%

• Rivian's stock displayed upward momentum today, propelled by favorable analyst evaluations and an increased price target by Guggenheim Securities.
• Despite a recall of certain R1 vehicles over a tire weight capacity labeling issue, investors are evidently more focused on the company's potential for long-term growth.
• The inclusion of Mercedes-Benz in Tesla's supercharger network waitlist indirectly shed light on the competitive dynamics in the electric vehicle industry, potentially benefiting Rivian.
• Persistent concerns regarding Rivian's cash utilization rate do not seem to dampen the broader market's positive outlook on the company's future, contributing to today's positive stock performance.